Did you hear?
We’re excited to announce our next generation of Driving Insights that are fully on-device. It generates the necessary insights to model all relevant risks for UBI (usage-based insurance). This new development offers a solution that overcomes the challenges of cost-effectiveness, scalability, and privacy. It collects, processes and reports Driving Insights without sending any personal information including GPS fixes off-device. Talk about a triple win!
Our state-of-the-art technology automatically generates Driving Insights directly from the device, with no need for additional hardware or software components. This allows companies to best leverage on-device phone sensor data collection.
Sentiance's Driving Insights include trip details, driving events, driving scores, and driver profiling. These can be used to accurately assess driving behavior, manage risks smarter, reward good driving behavior, and prevent accidents from happening.
The benefits of on-device
On-device insights offer several advantages for businesses looking to adopt UBI programs. For example, it allows for more accurate risk assessment by capturing a wider range of driving data points. These include speeding, distracted driving, and harsh events. Additionally, on-device insights allow businesses to provide drivers with real-time feedback and coaching on their driving behavior which can result in improved safety and lower risk profiles.
Another benefit is that on-device provides users with assurance that their personal data such as precise location is not being sent off their phones. This gives peace of mind knowing that their data remains secure and private. It also gives businesses an extra layer of security against potential leaks or hacks.
Finally, on-device insights are far more cost-effective than traditional cloud solutions. There are no ongoing processing fees associated with cloud infrastructure, possibly costing 5-10x less. This, of course, is an attractive option for businesses looking to keep costs down while still providing their customers with quality services.
Mobile advancements made it possible
The recent advancement of on-device Driving Insights has opened up a world of possibilities thanks to a combination of multiple innovations. Mobile devices have become much more powerful with heightened processing power, storage capacity, and battery life. This is alongside the improved deep learning technology that enables sophisticated machine learning models to be run on-device.
At Sentiance, our SDK is able to provide near real-time insights on-device by accurately and effectively collecting data without draining battery life. By providing on-device Driving Insights, we can decipher when someone is traveling and determine the route they take, while still being able to detect relevant events and compute scores based on risk factors. These factors include speeding or distracted driving - allowing us to gain insightful and actionable information on drivers’ behaviors.
To sum it up, there are three key advantages of an on-device solution:
- Data privacy: When raw data stays within the user's phone, there is a higher level of privacy.
- Ready to scale: Companies with large numbers of app users can launch this solution without logistic issues. There is no significant investment or time needed to roll out the solution to a bigger user base.
- Cost-effective: An on-device solution is more cost-effective for companies compared to a traditional cloud-based solution.
Bring it on!
Sentiance’s fully on-device solutions offer a cost-effective and scalable alternative while maintaining user privacy requirements. This doesn't sacrifice valuable insights into driver behavior. Trust will also increase among users who are wary about sharing their location or other sensitive information.
Our on-device Driving Insights could become a game changer for those who want to launch a UBI lead generation program. For example, many fintech and retail apps across the world leverage their existing user base to generate well-qualified leads for their insurance partners. Our Driving Insights help identify those users who have a significantly high percentage of trips with one or more risk factors as shown below.
Also, they can easily identify different regions where there are a significant number of users with good driving behavior to launch their programs. Here is a snapshot of users with good/bad driving behaviors from Insights by Sentiance, our demo application.
With our on-device Driving Insights, businesses can now guarantee no personal data leaves the device and still provide the needed data to assess relevant risks for UBI programs. We look forward to seeing the impact this new technology has on the insurance world.
Read more about our technology and let’s talk 👇
